Tips & Best Practices for Hospitality & Travel Professionals | RateGain Blog

In the dynamic and competitive landscape of the hotel industry, maintaining consistent pricing across various distribution channels is crucial for hoteliers. This is where the concept of hotel rate parity comes into play. Rate parity refers to the practice of offering the same room rates and terms across all distribution channels. However, to be able to use it to your advantage, it is important to understand the intricacies of rate or price parity and why it is integral to...

Managing all room & rate combinations across multiple platforms is a task that generally falls in the lap of a Revenue Manager (RM). When a hotel has its RM updating room-rate combination on its distribution platform manually then they are wasting the time, which RM should have spent in strategizing. Most hotels today realize that and make use of technology and that’s where the channel manager comes into the picture. While a channel manager seems like a dream product mana...

In today's digital era, hoteliers face the challenge of keeping their rates in sync, expanding to hundreds of new distribution channels, and maximizing the occupancy of their hotels. There is, therefore, the need for efficient room inventory management across multiple online distribution channels. This is where a channel manager becomes indispensable. Choosing the perfect hotel channel manager software requires careful consideration. But to do that, we need to first und...

Content is the key to effective and targeted communication from the industry's end to the customer in today's hospitality landscape. Content is a lot more dynamic now and has reignited as one of the key revenue drivers for any hotel in the industry. For example, 51% of travelers in the U.S.A. spend around seven days before a trip conducting research. You will most likely lose a conversion if they aren't greeted with fresh content about your hotel and notice a content disparit...

As the pandemic gradually creeps out, travel is making a strong comeback. But this comeback brought about monumental changes in guest behavior and booking inspiration. Post pandemic, hoteliers were simply playing catch up to meet the ever-evolving demands of the ‘changed’ customer. But what ‘changed’? How has the general traveler behavior and booking mentality changed since the world came out of its quarantined walls? The change is quite significant, and cannot be brush...

Occupancy rate refers to the percentage of available units in a building or facility that are currently occupied by tenants or users. It is commonly used in the real estate industry to measure the level of demand for a particular property or market. A high occupancy rate is generally considered to be a positive sign for property owners, as it indicates strong demand for their units and the potential for higher rental income. Conversely, a low occupancy rate may indicate th...

RevPAR stands for Revenue Per Available Room, which is a key performance metric used in the hotel industry to evaluate a hotel's financial performance. RevPAR is calculated by multiplying a hotel's average daily room rate (ADR) by its occupancy rate. The formula for calculating RevPAR is as follows: RevPAR = ADR x Occupancy Rate For example, if a hotel has an ADR of $150 and an occupancy rate of 80%, the RevPAR would be $120 ($150 x 0.80 = $120). This means that on a...

Picture this: There is a man who used to work for ten solid hours. As soon as he clocked out of his office, he would see his friends, have some beer, watch a football match and sleep the night away. On weekends, he would go for mini excursions, treks, or bowling. This was a story of a lot of people, who strived to have a good work-life balance. Even when people such as the one in our example planned their vacations, they were more on the lines of discovering a new place an...

With the increased usage of mobile, as well as travelers looking for more options the travel industry is now witnessing a shift in consumer behavior, with travelers looking for better deals for more exclusive destinations. While looking for these exclusive destinations, travelers expect seamless experiences from the minute they book, till the time they check out and while OTAs have been a critical partner in solving for distribution, destination properties that are targeti...